How Many Jobs Are Available in Commercial Banks?

How Many Jobs Are Available in Commercial Banks?

There are over 1.2 million jobs in Commercial banking in the USA alone. Therefore, Commercial banking is a very huge industry that is filled with lots of available job positions.

Although, you have to know that unlike retail banking, which is solely toward working with individuals, it is different from commercial banking, which is geared toward providing services to customers with businesses or commercial interests. Also, this includes checking and savings accounts, credit cards, loan options, and more.

So, if you have an interest in the finance sector, then, commercial banking is an attractive career choice for you.

Is Commercial Banking a Good Career Path?

Yes, this is one of the best career paths for many people, but as we said before, you must have a zeal to work in the finance sector and have a good mind in money management. There are several jobs in this sector but it is still competitive, so you will need a good degree to be able to get a good job in the commercial banking industry.

Does Commercial Banking Pay Well?

This is a difficult question to put a stamp on because it depends. However, there are jobs within commercial banking that pay well like financial managers. But those jobs most times require more education and experience. Although, some huge commercial banks, like JPMorgan Chase, offer apprenticeship and internship programs to help students and recent graduates gain experience. 

How Many Jobs Are Available in Commercial Banks?

Although there are a lot of jobs available in this industry, it is still very competitive. So, kindly, read below to see the jobs that are available in commercial banking near you.

Jobs in Commercial Banks

There are over 4,000 FDIC-insured commercial banks in the state, so there are over 1.95 million people working in full-time positions in commercial banks.

With a massive growth in commercial banking with a market size of $963.4 billion in 2022 However, according to Accenture’s report on Commercial Banking Top Trends in 2022 — many commercial banks are investing heavily in digital services.

The best part of this industry is that there are always new jobs available in commercial banking. This is because people are switching to jobs in different industries or retiring, and certain job types have more jobs available than others. For instance, there’s a decline in the number of jobs available for bank tellers. So, you can see that they are always a chance for one to get a job in this sector.

Financial Manager

Wow, financial managers are one of the highest-paid and fastest-growing occupations within commercial banking. For you to be able to get this job. It requires a bachelor’s degree as well as 5 years of experience in another financial or business role. There offer a salary of around $131,710 depending on the bank.

Financial Sales Agents & Traders

This job title sometimes gives people a headache to understand what they actually do in the bank. However, there are many different types of jobs available in multiple industries. Most sales agents and traders typically work for individual companies or investment banks, but they can sometimes work for commercial banks as well.

Therefore, the financial sales agents’ and traders’ main roles are for buying and selling stocks, bonds, and other commodities. They do this for both individual clients and for a firm.

But, for you to be able to work as a sales agent or trader, you’ll need a bachelor’s degree or higher. They offer a salary of $62,910 depending on the bank or client he or she is representing. Also, according to the bureau of Labor and Statistics, they are over 42,500 job openings in this sector.

Bank Teller

This job title is the most familiar and popular job in commercial banking all over the world. Usually, the Bank tellers only require a high school diploma, and most banks provide on-the-job training with a median salary of $36,310. 

However, the Bureau of Labor and Statistics estimates a 17% decline in the number of bank teller jobs available by 2030. 

Finally, All these listed above are the latest available jobs in the commercial banking industry today. Kindly, read through to understand each job and how to apply for them.

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